Cloud-to-cloud data protection company OwnBackup has acquired Nimmetry, a data integration software company that partners closely with Adobe, Salesforce, ServiceNow and Workday. Financial terms of the deal were not disclosed.
Nimmetry is based in Santa Clara, California, with a significant presence in Hyderabad, India, the buyer says.
Dig a littler deeper into the announcement, and you'll notice that OwnBackup also recently acquired data security firm Merlinx of Tel Aviv, Israel. Merlinx develops cyber intelligence solutions for law enforcement, intelligence agencies and national security organizations, according to that company's LinkedIn profile.
These are technology M&A deals number 291 and 292 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
OwnBackup: SaaS Backup Business Details
OwnBackup develops a backup and disaster recovery (BDR) application that's available on the Salesforce AppExchange. OwnBackup is headquartered in Englewood Cliffs, New Jersey with research and development (R&D), support, and other functions in Israel, EMEA and APAC.
OwnBackup is led by CEO Sam Gutmann, who previously built MSP-focused cloud backup provider Intronis (acquired by Barracuda in 2015). Gutmann’s encore in the backup market is scoring major wins. The software company now supports roughly 3,500 customers worldwide -- up from roughly 3,000 customers in January 2021, according to a statement at that time.
OwnBackup raised $167.5 million in Series D funding at a $1.4 billion valuation in January 2021. Insight Partners, Salesforce Ventures and Sapphire Ventures led the Series D round. Existing investors Innovation Endeavors, Vertex Ventures, and Oryzn Capital also participated in the funding.
OwnBackup Acquires Nimmetry: Executive Perspectives
In a prepared statement about the Nimmetry deal, Gutmann said:
“This acquisition accelerates OwnBackup’s multi-cloud strategy. The entrance into the Indian market and the access to the talented professionals that are now part of the OwnBackup family marks the continuance of a long-term commitment on OwnBackup’s part to providing industry-leading products and services to help our customers protect their mission critical SaaS data. The amazing team at Nimmetry brings with it some of the best in class data management tools, and we are excited to leverage these existing capabilities to extend our existing and future solutions.”
Nimmetry CEO Srinivas Garikipati added:
“We are excited to join OwnBackup. We have a shared vision for SaaS data protection as it relates to customers and the future of the space. We believe strongly in the market and the direction that it is headed.”
Cloud Backup, Data Protection Mergers and Acquisitions
Meanwhile, M&A activity in the data protection market remains extremely strong. Recent deals include:
- Acronis, backed by Goldman Sachs, has been particularly aggressive in the service provider market lately while also acquiring multiple companies.
- Arcserve and StorageCraft merged.
- Datto acquired Gluh to expand into sales automation software for MSPs.
- After a lost decade under Symantec’s former ownership, Veritas is back making acquisitions.
- Veeam, backed by private equity firm Insight Partners, continues to grow organically and via acquisition.
Here's a more expansive look at the overall data protection market.